Angel One, one of India’s top FinTech platforms, has announced its plan to form a joint venture (JV) with LivWell to launch a next-generation, digital-first life insurance company. Backed by a capital infusion of ₹400 crore, the new venture will be co-promoted by Angel One Ltd (26%) and LivWell Holding Company PTE Ltd (74%), subject to regulatory approvals.
This strategic alliance aims to redefine how Indians access life insurance—leveraging technology, trust, and transparency. India remains significantly underinsured, with protection gaps of over 83%, particularly among younger earners aged 26–35. The JV seeks to tackle this challenge by offering affordable, personalized, and protection-led insurance products built on seamless digital infrastructure.
The proposed company will operate on a tech-first architecture, using AI-driven automation and data personalization to simplify life insurance. The goal: to make insurance more relevant, affordable, and aligned with modern lifestyles.
The leadership team includes industry veterans such as Wilf Blackburn, ex-Regional CEO of Prudential Asia, who is expected to chair the venture, and Nikhil Verma, former Deputy CEO of Aviva Vietnam, as the CEO. LivWell is supported by Olympus Capital, a prominent Asia-focused private equity firm with $2.6 billion invested across companies like HDFC Bank, CreditAccess Grameen, and Utkarsh SFB.
With India aiming for ‘Insurance for All by 2047’, this digital-first insurer is poised to tap into a massive, underserved market. By combining Angel One’s digital expertise with LivWell’s insurance pedigree, the JV is set to reshape life insurance access for millions of Indians.
